Income discount in detail
We offer 50% discount on your annual fees if you meet all the following eligibility criteria:
- You’re registered with or without a licence to practise.
- You pay a fee that has not already been discounted.
- Your gross income from all sources during your registration year is less than the income threshold.
Income threshold
| Effective until 31 March 2022 | Effective from 1 April 2022 | Effective from 1 April 2023 | |
|---|---|---|---|
| Income threshold | £32,000 | £33,000 | £34,000 |
We define income as your gross annual worldwide income from all sources, including:
- pensions
- investment income
- maternity pay
- sick pay
- any kind of benefit, excluding child benefit.
You should calculate your income between your annual retention fee dates, not your income earned in the tax year.
For example: If your annual retention fee due date is 1 August and you're applying for the year 2023–24, you’d calculate your actual or expected income from 1 August 2023 to 31 July 2024. If it is below £34,000 you are eligible to apply.
If your annual fee is due is 1 December and you're applying for the year 2022–23, you’d calculate your actual or expected income from 1 December 2022 to 30 November 2023. If it is below £33,000 you are eligible to apply.
You must submit a separate application each year to receive this discount.
